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. the u.s. trade gap narrows as the world buys more made in america products and the u.s. buys less foreign oil. >> susie: and with gas prices rising, chevy hopes its new diesel chevy cruze will attract buyers looking for more miles per gallon. >> tom: that and more tonight on "n.b.r." >> susie: millions of people are bracing tonight for a powerful snow storm that could cripple the east coast. some forecasters say this could be the blizzard of the century with record amounts of snow and extremely strong winds. in parts of the northeast, transportation was shut down. the governors of massachusetts and connecticut declared a state of emergency and banned car travel, train service and cancelled flights in and out of boston. while the worst of the storm has yet to hit, many businesses and cities were busy making preparations today. erika miller reports. >> reporter: this monstrous storm is already being compared to the great blizzard of '78, when vast amounts of snow blanketed the ohio valley and the great lakes. that storm lasted 36 hours, leaving cars stranded. this storm could also b
world. >> and -- >> there is not a country in the world that believes that the u.s. drone attacks that we are doing on countries that we are not at war with is the right and sustainable solution for us. >> all we have is the president interpreting his own powers and the limits on his own powers. and that is not the way it's supposed to work. we need more oversight. >> announcer: funding is provided by -- carnegie corporation of new york, celebrating 100 years of philanthropy, and committed to doing real and permanent good in the world. the kohlberg foundation. independent production fund, with support from the partridge foundation, a john and polly guth charitable fund. the clements foundation. park foundation, dedicated to heightening public awareness of critical issues. the herb alpert foundation, supporting organizations whose mission is to promote compassion and creativity in our society. the bernard and audre rapoport foundation. the john d. and catherine t. macarthur foundation, committed to building a more just, verdant, and peaceful world. more information at macfound.org.
the government fail? >> a number of people told us that you didn't make this a top priority. >> well, i'm sorry that they think that because i made it an incredibly top priority. >> that's lanny breuer, the assistant attorney general in charge of the criminal division at the justice department. a week after the frontline report, he stepped down and is now expected to return to private corporate practice, one more government appointee spinning through the lucrative revolving door between washington and wall street. that door could be a big reason why government treats the banks with kid gloves. a man who once worked for citigroup, jack lew, the president's chief of staff, has been picked to be the new treasury secretary. and mary jo white, the newly named head of the securities and exchange commission, is a chief litigator at a top law firm representing big investment banks like morgan stanley. with all this happening, it's time to talk with journalist matt taibbi. you've seen him on our broadcast before. a contributing editor at "rolling stone," he's been tracking the high crimes and misdemeano
. using company documents to bolster their case, justice department lawyers says the deal will lead to higher prices for popular beers like budweiser and corona. anheuser-busch inbev says it is still confident the deal will go through. as darren gersh reports, the fight could be a sign more mergers will face a tougher time in washington. >> reporter: the justice department is not quite ready for a two-pack of brewers to control almost half the american beer market. in a statement announcing a lawsuit to block anheuser-bush inbev's $20 billion deal for mexican brewer modelo, assistant attorney general bill baer says >> if abi fully owned and controlled modelo, a.b.i. would be able to increase beer prices to american consumers. this lawsuit seeks to prevent a.b.i. from eliminating modelo as an important competitive force in the beer industry. anheuser-busch was not deterred, saying: >> we remain confident in our position, and we intend to vigorously contest the justice department's action in federal court. >> reporter: the proposed merger between the largest and third largest beer mak
those retail numbers are a positive sign for the u.s. economy. investors were worried about some not so good signals today about europe's economy. stocks turned negative on comments from europe's central bank president saying the strong euro could dampen europe's recovery. here on wall street, the dow fell 42 points, the nasdaq lost three and the s&p slipped over two points. >> tom: still ahead, douglas burtnick joins us, he's with aberdeen asset management. >> susie: a battle is brewing between a big name hedge fund investor and apple. at issue: how to get apple to unlock value for shareholders. today david einhorn of greenlight capital sued apple to block a move that would stop the use of preferred shares. shareholders will vote on this at apple's annual meeting on february 27. what einhorn is proposing is that apple pay out more of its cash hoard to investors, using a special kind of preferred stock. einhorn has a lot at stake: his fund owns more than one million shares of apple, and while the stock rose a bit today, it's down 35% since its peak of $700 last september. late today app
, working with our very own defense department, invented the internet in the first place. back then, the u.s. was in the catbird seat, poised to lead the world down this astonishing new superhighway of information and innovation. now many other countries offer their citizens faster and cheaper access than we do. the faster high-speed access comes through fiber optic lines that transmit data in bursts of laser light, but many of us are still hooked up to broadband connections that squeeze digital information through copper wire. we're stuck with this old-fashioned technology because, as susan crawford explains, our government has allowed a few giant conglomerates to rig the rules, raise prices, and stifle competition. just like standard oil in the first gilded age a century ago. in those days, it was muckrakers like ida tarbell and lincoln steffens rattling the cages and calling for fair play. today it's independent thinkers like susan crawford. the big telecom industry wishes she would go away, but she's got a lot of people on her side. in fact, if you go to the white house citizen's petitio
. >> it is because television. >> hold it eleanor. >> the spectacle has lost a lot of the drama and dignity it used to have. he walks down that aisle and gets slaps and high fives. they should have had beyonce doing her number midway through it. >> every other president has walked down that aisle and i don't recall you complaining about it. >> it has lost dignity. >> ike and fdr didn't look like that. >> it is an american tradition and the fact the numbers were down is partly because people don't watch television like they used to. >> eleanor, how were obama's kneels son ratings -- neilsen ratings, the second lowest since they began taking measurement in 1993. the lowest since 2000 when bill you clinton's last drew an audience of 931.5 million. >> i think neilsen should start rating some of the social media sites and look at the exchanges between people who watched it. the american people who watched that and pick up portions that have, here our president is addressing concerns in their lives. i agree the big topics like the eu trade pac that is very important. but i don't think people in the count
.e.o. tim cook sheds little light on how the company plans to use its hoard of cash. that and more tonight on "n.b.r."! for the second day in a row, federal reserve chairman ben bernanke told congress the central bank is not about to change its strategy, and for a second day, a strong rally on wall street. the dow surged 175 points to a five year high, the nasdaq added 32, the s&p was up 19 points. investors and traders warmed to the federal reserve chairman's steadfast support of the central bank's bond buying spree, he thinks the asset purchases are necessary to keep interest rates low in order to spur growth and boost hiring. the fed has been buying $85 billion a month in american i.o.u.'s since last september. while it won't stop the strategy, it will soon start talking about how to stop. >> we haven't done a new review of the exit strategy yet. i think we will have to do that sometime soon. even if we don't sell any securities, it doesn't mean that our balance sheet is going to be large for many years, it just would be maybe an extra year, that's all it would take to get down to a mor
the nation of afghanistan and the air force base in the u.s. state of nevada. drones come in various shapes, sizes and weights. they are used for surveillance, disablement, and killing. and drones are increasingly ubiquitous. there are 64 drone bases spread across the united states alone, and the u.s. has other drone installations across the planet. africa is increasingly a drone base environment. a newly authorized site in the nation of niger will become the sixth u.s. drone base in africa, joining one in morocco, senegal, uganda, and a permanent one in djibouti. u.s. drone attacks ordered by obama have spiked particularly in yemen, somalia, afghanistan, and notably pakistan where over 360 drone strikes over the nine years, 2004 to 2013, have killed over 3,000 people. this data is not classified. and not even secret. but it is troubling. so troubling that the u.n. has just decided to launch an investigation on the impacts of drone strikes on thousands of civilians. question. will the u.n. human rights council rule that drone use violates international law do you think, pat buchanan? >> i d
, and investors are seeing in the u.s. economy. we preview the economic state of the union. why regulators need to treat them like other business. then u.s. airways sees big benefits in merging with american airlines. we look at the new landscape for airlines if the deal goes through. we have that anmore tonight on nbr. president obama is preparing to deliver his first state of the union address of his new term, tomorrow. the american people will be listening carefully to his plans to grow the economy, especially as they struggle with less take home pay, and worries about their jobs. while there are signs of improvement in the economy, the unemployment rate rose in january to 7.9%. so what is the current state of the economy? erika miller talked to two experts with different views. >> reporter: it may seem strange to many investors that the stock market can be hovering at five- year highs, when the economy is so weak. but what's fueling the rally is not the current situation, it's hope. >> we've taken out some of the downside tail risks. so, we're feeling like although it's not going to be a bo
, wall street could use some new headlines to chew on. good economic data would be nice. friendly washington politics would also be helpful. tonight's state of the union speech might give investors a clue as to whether that's likely to happen. veteran trader teddy weissberg is hoping president obama will stress the need for bipartisanship but isn't sure that's what he'll hear. >> in terms of tonight, i don't think anybody that i talk to in the wall street arena expects to hear anything terribly dramatic one way or another. >> reporter: since lawmakers and the white house kicked the proverbial can down the road around new years, the stock market has rallied rather nicely. the s&p 500 is up nearly 7% and the dow is about 150 points away from its all-time high. of course, stocks have been getting help from corporate america, too. it turns out fourth quarter profits were better than expected, led by the housing sector and financial firms. >> about 345 companies have reported so far, of which 70% have beaten earnings expectations and 66% have beaten revenue expectations. both of these
in commodities. >> susie: and u.s. companies and infrastructure are increasing under the threat of cyber attack. we look at a new plan tying safeguards to trade policy. >> tom: that and more tonight on "n.b.r."! >> susie: on the comeback trail, hewlett packard posting better than expected first quarter results tonight, as a wide- ranging revamp of the struggling computer maker takes hold. and its shares take flight, rising over 6% in after hours trading. h.p. earned $0.82 a share, $0.11 better than wall street had anticipated. and revenues, while down at $28.4 billion, also beat the street. c.e.o. meg whitman has been on the job 17 months, speaking with investors today, whitman said she felt good about the rest of the year, and that last year's hard work was paying off for h.p. but, analysts say h.p. is not out of the woods yet. >> it's the type of thing that can be fixed quickly. this isn't going to take several years to play out so first of all it seems like meck whitman's vision is very much on track but we're not seeing that play out in the financials, but it is encouraging that guidance wa
-- including u.s. government officials who in 2007 publicly stated that problems in the subprime market appeared to be contained." >> reporter: s&p goes on to argue that the securities at issue in the justice department's case were reviewed by another ratings agency and received the same rating. s&p says it also began downgrading many mortgage securities in 2006, warning that conditions in the housing market were deteriorating. but critics say what matters is what s&p claimed at the time it stamped securities triple a. >> the ratings agencies claim that they have unique analytic abilities and very sophisticated models that enable them to determine the credit worthiness of a bond, a derivative, a security. >> reporter: s&p points out court rulings have dismissed what it called challenges to a credit rating made with 20/20 hindsight. if the justice department does sue, standard and poor's says it will vigorously defend itself. darren gersh, "n.b.r.," washington. >> tom: still ahead, tonight's word on the street: consumers, the street.com's david peltier joins us with some consumer product
rain and snow, but not on saturdays. the u.s. postal service is dropping saturday letter deliveries to save billions. >> tom: i'm tom hudson. fresh pain at the pump. american drivers see a steep jump in gas prices: up 15 cents a gallon in the past week alone. >> susie: and the federal reserve says it's been hit, by cyber hackers. we look at u.s. businesses and just how safe their networks are. >> tom: that and more tonight on "n.b.r."! >> susie: the u.s. postal service says this summer it will stop delivering mail on saturdays, ending a service that began 150 years ago. cutting back to a five-day a week schedule will save $2- billion. the post office has been losing about $20 million a day, as e- mail useage ramps up and mail volume plunges. congress has required the post office to deliver six days a week, but the postmaster general believes there is a loophole in the law that will allow him to make the change. darren gersh reports on the business fallout. >> reporter: first class mail is the postal service's most profitable product. it is also a business that is disappearing at the
. that and more tonight on "n.b.r." investors spent much of this week focused on the u.s. market with major market indexes hitting five-year highs. but now the spotlight is shifting overseas. g-20 finance ministers and central bankers are meeting in moscow over the weekend. they will be debating the need for austerity, versus the need to spur growth. no one expects a quick turnaround for the european economy, which has been mired in recession. but as erika miller reports, that may make now a good time to invest. >> reporter: it would makes sense that american investors would be loading up on u.s. stocks with the market here doing so well. but they're not. last week, investors in stock mutual funds put virtually all their cash in international markets. more than $3 billion went into funds holding international stocks. by comparison, mutual funds holding u.s. stocks suffered their first outflows of the year. investment advisors say small investors may be on to something. >> international investing has had a bad reputation over the last couple of years had a bad experience, people have taken money ou
to be the secret daughter of strom thurmond, news she shared with us when we were first on the air, as we celebrate now 10 years on this network. this is coming up, right now. >> there is a saying that dr. king had that said there is always the right time to do the right thing. i just try to live my life every day by doing the right thing. we know that we are only halfway to completely eliminate hunger, and we have a lot of work to do. walmart committed $2 billion to fighting hunger in the u.s. as we work together, we can stamp hunger out. >> and by contributions to your pbs station by viewers like you. thank you. tavis: mark pinksy is the president and ceo of a nonprofit designed to align money and capital with political, economic, and social justice, opportunity finance network. ofm, and i am sure we will get to that. good to have you on the program. >> good to be here. tavis: i am not the only one continuing to do as much as we can on the issue of poverty, and this includes so much. what often does not get talked about is the fight back. i do not want to be guilty of only talking about the ugly
industry. >> susie: the u.s. government wants as much as $5 billion from standard and poors, officially accusing the credit ratings agency of fraud during the housing boom. >> tom: and earnings from a trio of consumer stocks finds us spending money on eating out and watching tv. >> susie: that and more tonight on "n.b.r." >> tom: a bold new chapter for computer maker dell was opened today. michael dell said today he's taking the company he founded almost 30 years ago private. it's a $24.5 billion deal offering dell investors $13.65 per share. now, at one point, dell was the largest p.c. maker in the world, boasting market capitalization of more than $100 billion. now, it sits behind apple, hewlett packard and lenovo, valued a fifth of what it once was. ruben ramirez begins are coverage. >> reporter: michael dell admits he missed the consumer shift away from the p.c. to tablets and smartphones, but today's announcement his company is going private doesn't necessary address how dell is going to try to capture those markets. >> they want to continue to be a hardware player, but the questio
its easy efforts to stimulate the economy had u.s. markets seeing green. the dow gained 116, the nasdaq is up 13, and the s&p rose nine. washington bureau chief darren gersh has details on the fed chairman's strong defense of his aggressive policy to support the economy. >> reporter: sure, there are risks when the federal reserve is buying almost $3 billion worth of bonds every day. but chairman ben bernanke told congress basically, "we got this." >> although a long period of low rates could encourage excessive risk taking, and continued close attention to such developments is certainly warranted, to this point, we do not see potential costs to the increased risk- taking in some financial markets is outweighing the benefits of promoting a stronger economic recovery and more rapid job creation. >> reporter: with unemployment stuck around 8% and inflation subdued at 1.5%, there are no economic red lights flashing. so bernanke gave no signals he was ready to change course or back away from his aggressive program to get the economy back to a more normal level of output. still, t
to be the best cliche for the u.s. job market, right now. the nation's unemployment rate has been lurking just around 8% for the last six months. and, the number of news jobs created is barely keeping pace with population growth. still, some economists think the latest labor data is encouraging. >> when we look at the number of jobs being created even though it was a tad below expectations, it was still a healthy number that should continue to help the economy. >> reporter: the main reason for optimism: those positive revisions to november and december jobs data. it turns out, the government underestimated how many positions were added by 127,000. it was that miscount that helped push the dow over 14,000 for the first time in more than five years. and, at 14,000 the blue-chip index is about 150 to 200 points away from its all-time high. market pros like wayne kaufman predict new highs for stocks in coming weeks. >> many investors, retail investors, individual investors are reaching the point of recognition where they no longer believe the economy is going to collapse again, or that the stock m
, "n.b.r.," washington. . >> chairman of macroeconomic advisers joins us tonight from st. louis. you have been looking at the sequester and fiscal cliff for man moons, joel. a pay cut for hundreds of thousands federal employees april 1. that sounds pretty substantial. is it, to the economy? >> well, first of all, it's substantial to the people affected, no question about that. in terms of its impact on the economy, we recently did a study that suggested if the sequester goes into full effect march 1, want impact will be to knock .6% off of growth this year. that is if we thought the economy was going to grow at about 2.6% without the sequester, that will be reduced to 2% with the sequester. >> tom: for this year, we're talking $85 billion potentially taken out of the growth of government spending between march 1 and the end of september and a $4 trillion budget. proportionally for median household income that's the equivalent of $1,000 out of a $50,000 income being taken out. how can that impact economy so much? >> well, it's-- it amounts to something like an 8% cut in the level of g
by groups opposed to economic reform, on top of that, u.s. equities face a looming friday deadline for massive government budget cuts, known as "sequestration." the dow tumbled 216 points, the nasdaq fell nearly 46, and the s&p 500 lost 28 points. while there's been much talk of a correction in the stock market, sequestration may not be the catalyst. suzanne pratt reports. >> reporter: it is widely accepted on wall street that sequestration is coming. and, with it a new reason for the fragile u.s. economy to sputter. but, what will the first phase of billions of dollars in federal spending cuts actually do to the u.s. stock market? after all, major market averages are hovering close to all-time highs, and don't forget investors are finally warming up to equities again. floor broker art cashin says today's selling was mostly a reaction to italy's election, and that the stock market is not yet focused on sequestration. >> i don't think that even we slip into sequestration it will have the same dramatic effect that the fiscal cliff and the debt ceiling had. it is seen as somewhat temp
states on the series created by shonda rhimes. we are glad you joined us. king had that said there is always the right time to do the right thing. i try to live my life every day we know that we are only halfway to completely eliminating hunger and we have work to do. walmart committed $2 billion to fighting hunger in the u.s. as we work together, we can stamp hunger out. >> and by contributions to your pbs station from viewers like you. thank you. tavis: tony goldwyn is an actor who stars on "scandal." is now in its second season and airs thursday night's. >> here is what is great about having someone attempt to assassinate you. doctors are yelling, and you could die, and you suddenly stop being afraid. then when you do not die, you realize you have nothing to lose and no time to waste. this is going to happen. i am going to divorce and remain president of the united states. that is my job. do your job. work out the details. make it happen during your -- make it happen. >> you are out of your mind. a sitting president cannot divorce his wife. >> i think you are probably righ
saying, "we think our stock is overvalued, let's use it while we can to buy the competition." >> reporter: there may be a lot more corporate marriages in the months ahead, but stovall says the stock market still needs to digest its recent gains. >> i think that we could end up seeing a relatively mild correction in prices, something on the order of 5% or maybe more. but then we're going to see a lot of investors say, "it's time to jump back in because i missed most of this move." >> reporter: stovall also says any stock market correction needs a trigger. what that may be, however, is anyone's guess. suzanne pratt, "n.b.r.," new york. >> tom: dell is among those companies involved in the deal- making this year. its founder and a group of investors wants to take dell private. in the meantime, the company reported better than expected quarterly earnings late today. dell earned 40 cents per share last quarter. while that's down considerably from a year ago, it is slightly better than wall street estimates. still, business continues to be tough. the lone business dell saw revenue grow last qua
congress gathers to hear the president, used to be known as "the people's house." but money power owns the lease now and runs the joint from hidden back rooms. you're looking at the most expensive congress money can buy. the house races last fall cost over $1 billion. it took more than $700 million to elect just a third of the senate. the two presidential candidates raised more than a billion a piece. the website politico added it all up to find that the total number of dollars spent on the 2012 election exceeded the number of people on this planet -- some seven billion. most of it didn't come from the average joe and jane. 60% of all super pac donations came from just 159 people. and the top 32 super pac donors gave an average of $9.9 million dollars. think how many teachers that much money could hire. we'll never actually know where all of the money comes from. one-third of the billion dollars from outside groups was "dark money," secret funds anonymously funneled through fictional "social welfare" organizations. those are front groups, created to launder the money inside the deep po
approve the use of medical marijuana? >> the legislature knows how to say, thou shalt not ban dispensaries. they didn't say that. >> that's the question before california's highest court this week. the ruling could have a huge impact on the state's massive medical marijuana industry. >>> job growth in silicon valley is outpacing the rest of the nation. but a new report says the income gap between rich and poor is widening. leaving some minorities behind. >>> with the number of people riding bicycles rising fast, san francisco planners roll out a multimillion dollar strategy to add bike lanes, parking stations and other improvements. we'll talk with the head of the san francisco bicycle coalition. >>> plus, california takes the first step to grant special protection to the ocean's top predator. coming up next. >>> good evening, and welcome to "this week in northern california." i'm scott shafer. well, we hoped we'd be talking about this week's super bowl victory parade for the san francisco 49ers, but it didn't quite work out that way. the good news, well, we still have plenty to delve into
: president obama also used last night's speech to push for an increase in cyber security. his proposal set the stage for a fresh debate on the urgency for cyber-security. the president made the case that america's power grid, financial institutions and air traffic control systems, are vulnerable to attacks. so he's calling on congress to pass legislation to give the u.s. government the capacity it needs to secure our networks. the president also issued an executive order, to create cyber security standards for u.s. businesses, and for the government to share more information about threats. but cyber security experts, say while that sounds easy, it's hard to do. >> you can't just inform one party necessarily, you might really have an obligation as a government to inform every player in a sector, and then of course that's a high bar, because you're sharing the information with a lot of people which increases the likelihood that it might get out back into the wrong hands. >> susie: beckstrom says the threat of cyber attack or manipulation to critical infrastructure like the power grid and tra
following a tough recession. darren gersh, "n.b.r.," washington. >> susie: joe davis joins us now, he's chief economist at vanguard, the giant mutual fund company. >> susie: joe, nice to have you with us on this important day. let me start by asking you, do you think the fed is taking on too much risk? >> i think there is an argument that can be made. we've had a concern for more than a year that there are both costs as well as benefits with respect to very aggressive monetary policy. and just some of the behavior we've seen in the financial markets. i know the report talked about excessive risk-taking. so i've had a concern that those costs associated with monetary policy may not have been given the sort of credence they should have been. so a positive development, in my mind, to today's minutes it was that federal reserve policy-makers were more aggressively talking about both the pros and cons wreaptwith respect to aggressive monetary policy. >> susie: one thing we've been hearing repeatedly from the federal reserve is they're not going to make any change in this policy, raising in
again. >> president obama used his bully pulpit this week to call on congress to avoid, get this, sequestration. that's washington nomenclature for automatic spending cuts due to go into effect on march 1, next friday. on that date, both military and domestic programs will feel the impact of the monumental $85 billion cuts slated for this year, 2013, alone. not only does the president condemn the cuts, but his administration is also sounding the alarm. first, the secretary of state. >> but in these days of the looming budget sequester that everyone actually wants to avoid, or most, we can't be strong in the world unless we are strong at home. my credibility as a diplomat, working to help other countries create order is strongest when america at least puts its own fiscal house in order, and that has to be now. >> next, the secretary of defense. >> members of congress need to understand that they were elected to protect the public, not to hurt the public. and i hope they will remember that as they hopefully work towards a resolution of this issue. >> the president and his cabinet a
Search Results 0 to 36 of about 37 (some duplicates have been removed)

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